Settlements

LEON F. ANDERSON AND BING JUNG [Agreed Stmt]

BCSECCOM #:
Document Type:
Agreed Stmt
Published Date:
1998-09-18
Effective Date:
1998-09-10
Details:


IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418

AND

IN THE MATTER OF LEON F. ANDERSON AND BING JUNG


Agreed Statement of Facts and Undertaking


The following agreement has been reached between Leon F. Anderson (“Anderson”) and Bing Jung (“Jung”) (collectively, the “control persons”) and the Executive Director:

1. As the basis for the undertakings referred to below, the control person acknowledges the following facts as correct:
      (a) on March 22, 1996, the control persons filed a Notice of Intention to Sell and Declaration Pursuant to Section 117(c) and (d) of the Securities Regulation (“Form 23”) with the British Columbia Securities Commission, indicating their intention to dispose of up to 1,398,964 free-trading shares of Pacific Talc Ltd.;

      (b) the Form 23 was completed and executed by Anderson, on behalf of the control persons, on February 1, 1996, at which time Anderson provided his legal counsel, with the completed and executed Form 23. The Form 23 was not filed by the legal counsel until March 22, 1996;

      (c) the Form 23 disclosed that February 1, 1996, was the proposed commencement date of the sale from a control position;

      (d) on August 20, 1997, the control persons filed an amended Form 23, dated March 22, 1996, which indicated that the proposed commencement date of the distribution was March 29, 1996; and

      (e) The control persons had already disposed of 400,000 shares by way of a private sale on February 8, 1996, thereby contravening section 136 of the Securities Regulation, B.C. Reg. 479/95. This was the only sale concluded by the control persons prior to filing the Form 23. This sale was reflected in Anderson’s Insider Report of February 1996.
2. The control persons have cooperated with the British Columbia Securities Commission in its enquiries.

3. Anderson and Jung undertake and agree to comply with the Securities Act, R.S.B.C. 1996, c. 418, the Securities Rules, B.C. Reg. 479/5 and all applicable regulations, policies and guidelines.

4. Anderson and Jung jointly and severally, undertake and agree to pay $1,000 to the British Columbia Securities Commission.

5. Anderson and Jung waive any right they may have, under the Act or otherwise, to a hearing, hearing and review, judicial review or appeal related to, in connection with or incidental to this agreement.

DATED at Vancouver, British Columbia, on May 12, 1998.



___________________________)
Witness)
)
James Pflone________________)_______________________
Witness Name (Please print))Leon F. Anderson
)
#404 - 815 Hornby____________)
Address)
)
Lawyer_____________________)
Occupation)
DATED at Vancouver, British Columbia, on August 27, 1998.



__________________________)
Witness)
)
Donald Lyons_______________)_______________________
Witness Name (Please print))Bing Jung
404 - 815 Hornby Street)
Vancouver, BC_____________)
Address)
)
Lawyer___________________)
Occupation)
      DATED at Vancouver, British Columbia, on September 10, 1998.





Michael J. Watson
A/Executive Director
©2024 British Columbia Securities Commission